The Real Deal New York

Posts Tagged ‘ruben muschel’

  • Extell’s Gary Barnett and 734-736 Broadway

    It seems Gary Barnett has finally triumphed in his nine-year effort to buy two loft buildings in Noho for $11 million, according to public records filed with the city today. Barnett’s Extell Development closed on the buildings, at 734 Broadway and 736 Broadway, last week, the filing shows.

    For the past six years, Extell’s acquisition of the buildings has been stalled by infighting between the owners. Brothers Aaron, Ruben and Mordechai Muschel, who were willed the property by their father William Muschel, had been battling over the modest portfolio since their fathers’ death in 2001.

    As The Real Deal previously reported, Barnett signed a $13 million contract to buy the two loft buildings in 2002. … [more]

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    Gary Barnett, 736 Broadway and 734 Broadway

    A disgruntled brother battling his two siblings over their late father’s New York City real estate portfolio threw another wrench into Gary Barnett’s nine-year effort to buy two loft buildings in Noho for $11 million.

    The brother, Aaron Muschel, was not satisfied with a settlement filed by a judge in Manhattan federal bankruptcy court in December that sought to close more than six years of litigation. A compromise between Barnett, president of Extell Development, and at least one of the Muschel brothers brought an end to three related bankruptcy proceedings and opened the door to Barnett buying the attached properties, 734 and 736 Broadway, south of Astor Place. … [more]